Cooper Tire Completes Acquisition of Mexico Joint Venture Plant
COOPER TIRE & RUBBER (CTB)
Last cooper tire & rubber earnings: 2/24 07:00 am
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Source: Business Wire
FINDLAY, Ohio--(BUSINESS WIRE)--Cooper Tire & Rubber Company (NYSE: CTB) today announced it has closed on the agreement announced Nov. 1, 2019 to increase ownership in its Mexico joint venture tire manufacturing facility, Corporación de Occidente S. A. de C.V. (COOCSA), from 58 percent to 100 percent.“Full ownership of COOCSA is part of our strategic plan to optimize Cooper’s global manufacturing footprint with cost-competitive production of quality tires in key geographies,” said Cooper President & Chief Executive Officer Brad Hughes. “We are excited to continue working with the team in Mexico as we look forward to enhancing the facility’s global competitiveness in the tire industry.”Forward-Looking StatementsThis release contains what the company believes are “forward-looking statements,” as that term is defined under the Private Securities Litigation Reform Act of 1995, regarding projections, expectations or matters the company anticipates may happen with respect to the future
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